Forsta AP Fonden Has $9.40 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Forsta AP Fonden trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,398 shares of the software maker’s stock after selling 700 shares during the quarter. Forsta AP Fonden’s holdings in Manhattan Associates were worth $9,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Tobam acquired a new stake in Manhattan Associates during the 1st quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Manhattan Associates in the second quarter worth $31,000. Finally, DT Investment Partners LLC acquired a new stake in Manhattan Associates in the second quarter valued at $31,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.38.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Up 0.8 %

Shares of MANH stock opened at $275.70 on Monday. The firm has a 50 day moving average of $274.95 and a 200-day moving average of $247.10. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 90.10 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $186.77 and a 52 week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 86.65%. The business had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same period last year, the company posted $0.79 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.